The World Bank (WB) said in a recently released economic update thatCambodia's GDP growth is projected to reach 7 percent in 2013 despite achallenging global economic environment.
Overallmacroeconomic outlook remains positive, having sustained agriculturalgrowth, continued strong performance of the tourism sector, a resilientgarment sector and rebounding construction activity, the Bank said inthe East Asia Pacific Economic Update released on October 7.
During the first six months of 2013, garment exports grew at 18percent year-on-year, while the tourism sector continues its high growthtrajectory, with a tourist arrival growth rate of 19 percentyear-on-year. Investment in the construction sector reached 1.9 billionUSD, an increase of 50 percent over the same period last year.
The WB added that in the agricultural sector, rice production hascontinued its high growth due to rising cultivated areas of rice crops.
According to Enrique Aldaz Carroll, an economist ofthe WB in Cambodia, the Southeast Asian country’s economy isexpected to remains robust in the coming time despite challengessuch as natural disasters, post-election political instability orglobal economic slowdown.
Earlier, the AsianDevelopment Bank (ADB) on October 2 gave out a brighter forecast on theCambodian economy, saying it is expected to grow at 7.2 percent in 2013and 7.5 in 2014.-VNA
Overallmacroeconomic outlook remains positive, having sustained agriculturalgrowth, continued strong performance of the tourism sector, a resilientgarment sector and rebounding construction activity, the Bank said inthe East Asia Pacific Economic Update released on October 7.
During the first six months of 2013, garment exports grew at 18percent year-on-year, while the tourism sector continues its high growthtrajectory, with a tourist arrival growth rate of 19 percentyear-on-year. Investment in the construction sector reached 1.9 billionUSD, an increase of 50 percent over the same period last year.
The WB added that in the agricultural sector, rice production hascontinued its high growth due to rising cultivated areas of rice crops.
According to Enrique Aldaz Carroll, an economist ofthe WB in Cambodia, the Southeast Asian country’s economy isexpected to remains robust in the coming time despite challengessuch as natural disasters, post-election political instability orglobal economic slowdown.
Earlier, the AsianDevelopment Bank (ADB) on October 2 gave out a brighter forecast on theCambodian economy, saying it is expected to grow at 7.2 percent in 2013and 7.5 in 2014.-VNA
